The Office for National Statistics November Economic Review pointed out this week that although we have begun to experience decent economic growth again, there has been very little growth in real household disposable income since the beginning of 2009.
Now that the US debt crisis is over (until next time a deadline looms), we can turn our attention back to Europe.
As the deadline for the US Government to reach an agreement on the debt ceiling looms (it is, in theory at least, the 17th of October), we take a look at who holds most of the debt, and what that means in the face of a potential default.
The light at the end of this particular tunnel is the hope that our political classes will get the message that less legislation, less pandering to vested interests and more concentration on balanced budgets might be politically popular. Always looking for this elusive light, one can only hope…..
There has been quite a contrast in profitability in the services and manufacturing sectors recently, with the services sector at a four year high, while the manufacturing sector is at a ten year low.
At the very end of last year, the US was heading towards a “fiscal cliff”, and although a deal was agreed, the Economic Research Council pointed out in our first Chart of the Week of 2013that the debt ceiling still loomed ahead.